BenchSci, a Toronto, Canada-based company which specializes in AI solutions for preclinical life sciences research and development (R&D), raised USD$70M in Series D funding.
The round, which brought the total amount to $170M, was led by Generation Investment Management, with participation from existing investors iNovia Capital, TCV, Golden Ventures and F-Prime Capital.
The company intends to use the funds to expand its AI drug discovery platform, ASCEND by BenchSci, which enables scientists to discover biological connections, reduce trial-and-error experimentation and uncover risks early.
Led by CEO Liran Belenzon, BenchSci specializes in AI solutions for drug discovery enabling pharma organizations to surface the underlying biology of all diseases to advance the speed and success of new medicines to patients. The ASCEND platform empowers scientists at every stage of preclinical research, regardless of therapeutic area by turning inaccessible, unstructured, and unstandardized experimental evidence from external and internal data sources into actionable insights. Using a proprietary text and image-based machine learning approach, the system decodes and connects the entire available history of biomedical research, combined with customer experimentation and procurement data, to create an unbiased and objective map of the underlying biology of disease.
Today, BenchSci’s software is used by 16 of the top 20 pharmaceutical companies and by over 50,000 scientists working at more than 4,500 research centers worldwide.
FinSMEs
25/05/2023